Three Benefits of Knowing your Store’s Demographic Data
No store can be all things to all people. Instead, store’s must reach specific customers and satisfy their particular needs with the right messages at the right time. In order to run a successful online store, and stay competitive, you must identify your customers, what they want, and when they want it. The question is, how do you go about doing this?
Start with understanding your store’s demographic data. Demographics are the statistical component of marketing used to identify population segments by specific characteristics, like age, gender, or income. Whether small, medium, or large, stores must take a targeted approach to marketing in order to stay competitive. Understanding your demographic data gives you a head start in understanding your market – and ultimately the ability to market smarter, not harder. And if you do not already, you should be marketing your products or services through targeted approaches to different segments of the population, and we’ve got three really compelling reasons why.
1. Improves the Customer Experience
Your customers expect the buying process to be a complete experience, not just an isolated moment at the time of checkout. Advances in big data gives online retailers the tools to process and analyze the demographic data, traffic data, and purchase history necessary to discover how a complete shopping experience can be improved from beginning to end.
2. Allows for Personalization
Marketing through channels, like email, can get monotonous and impersonal – especially when they’re for products your customers don’t care about. Big data, like understanding your demographic data, allows you to send targeted and personalized marketing messages. If you are smart about what information you collect, who you collect it from, and how you implement it, you can market to your customers in ways that exponentially increase sales.
3. Increases ROI and Conversions
Access to accurate real-time data, like demographic information and revenue attribution by marketing channel, allows you to understand what’s working and what’s not when it comes to your marketing. The most important thing that you can do to increase conversions and return on investment (ROI) is to automate your marketing based on this data, track the results, and continue to get smarter and smarter about your marketing.
Want demographic data for your store? If you are in the dark about your store’s demographic data, or just want to know if your demographics have changed, try our FreeDemographicSnapshot.com. It’s really easy to use and gives you a powerful ‘snapshot’ of your store’s demographic data that includes information about the age, gender, and households of your customers for free.